The deal involves the licensing of each other’s intellectual property and distribution of films in both markets.

Central Partnership, which is the sub-distributor for Paramount and Summit Entertainment will dub the films. It expects to be able to showcase Eros’ massive film library on pay-TV in Russia and to explore free-TV options.

The deal also involves the launch of Eros’s streaming video service Eros Now in Russia via Ruform and Rutube. Going the other direction, Eros will distribute Central Partnership titles to Indian TV and carry Russian content on Eros Now.

“Russia’s domestic market potential is promising and coupled with the rise in digital consumption by local audiences, we see a huge opportunity in exploiting exciting, unique and high-quality content together to reach audiences across the two diasporas,” said Eros CEO Jyoti Deshpande in a statement.

Between January-June Russia’s box office for foreign films grew by 10% to $327 million (23 billion rubles), while grosses for Russian films increased by 5%, to $87 million (6.1 billion rubles.)